


U.S. stocks drifted Tuesday through a rare quiet day for financial markets.
The S&P 500 slipped 0.2%. The Dow Jones industrial average fell 155 points, or 0.4%, and the Nasdaq composite edged down by less than 0.1%.
The modest moves offered some respite following the huge swings that have battered Wall Street recently, not just day to day but also hour to hour. The day before, the S&P 500 went from a gain of 1.8% to a slight loss and back to a gain as it struggled to keep up with shifts in President Donald Trump’s trade war, which economists warn could cause a global recession unless it’s scaled back.
The yield on the 10-year Treasury eased to 4.33% from 4.38% late Monday. It had pulled back to there from 4.48% at the end of last week after surging from just 4.01% a week earlier.
The value of the U.S. dollar also steadied after tumbling last week, which had raised more worries that Trump’s trade war was degrading its status as a safe-haven investment, as with U.S. Treasury bonds.
On Wall Street, grocery chain Albertsons’ stock fell 7.6% despite reporting a stronger profit for the latest quarter than analysts expected.
Health care company DaVita sank 3% for a second straight drop after it said a ransomware attack is affecting some of its operations.
On the winning side of Wall Street was Bank of America, which climbed 3.6% after the Charlotte, N.C.-based bank reported stronger profit for the latest quarter than analysts expected. Citigroup also topped analysts’ expectations, and its stock rose 1.8%.
Palantir Technologies climbed 6.2% for a second day of gains after NATO said it would use the company’s artificial-intelligence capabilities in its allied command operations.
All told, the S&P 500 slipped 9.34 points to 5,396.63. The Dow fell 155.83 to 40,368.96, and the Nasdaq composite edged down by 8.32 to 16,823.17.
In stock markets abroad, indexes rose across much of Europe and Asia. Germany’s DAX returned 1.4%, and the FTSE 100 in London climbed 1.4%.
Automakers helped drive indexes higher in Asia, where Japan’s Nikkei 225 added 0.8% and South Korea’s Kospi rose 0.9%.
Chinese stocks wobbled, with Hong Kong’s Hang Seng rising 0.2% after fluctuating much of the day. Stocks in Shanghai added 0.1%.
— Associated Press